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Company Description

Contact Info

1201 Lake Robbins Drive

The Woodlands, TX 77380-1046

United States

Phone: 832-636-1000


nsylvania, Louisiana, and Kansas. The region includes the Eagleford shale in South Texas, the Delaware basin in West Texas, the Marcellus shale in north-central Pennsylvania, and the Haynesville shale in East Texas and Northern Louisiana. Operations in these areas are focused on finding and developing both natural gas and liquids from shales, tight sands, and fractured-reservoir plays. Delaware Basin: The company holds interests in approximately 600,000 gross acres in the Delaware basin. The company’s 2015 drilling activity primarily targeted the Wolfcamp shale play, liquids-rich Bone Spring 2 tight sands, and the Avalon shale play. In 2015, the company drilled 80 operated wells and participated in 49 nonoperated wells. As of December 31, 2015, the company had six operated rigs drilling in the Wolfcamp shale. Eagleford: The Eagleford shale development in South Texas consists of approximately 346,000 gross acres and approximately 1,300 producing wells. In 2015, the company averaged 4 drilling rigs, drilled 183 wells, completed 179 wells, and brought 201 wells online. Eaglebine: The company holds 156,000 gross acres in the Eaglebine shale in Southeast Texas, most of which is held by existing Austin Chalk production. In 2015, the company continued to delineate and develop this acreage by drilling 24 operated horizontal wells with a 1-rig program. East Texas/North Louisiana: The company holds 223,000 gross acres in East Texas/North Louisiana. The company continued its capital program in the East Texas/North Louisiana area in 2015, targeting the liquids-rich Haynesville shale in East Texas and the prolific dry-gas Haynesville shale in North Louisiana. In 2015, the company averaged 3.5 operated rigs and drilled 39 wells in the Haynesville and Cotton Valley formations. Marcellus: The company holds 625,000 gross acres in the Marcellus shale of the Appalachian basin. In 2015, 1 operated horizontal well was drilled and the company participated in the drilling of 18 nonoperated horizontal wells. Gulf of Mexico The company owns an average working interest of 60% in 279 blocks in the Gulf of Mexico. The company operates 8 active floating platforms and holds interests in 34 fields. During 2015, the company advanced development of the Lucius and Heidelberg projects and continued an active deepwater development and appraisal program in the Gulf of Mexico as it continues to take advantage of existing infrastructure to develop known resources. Development Lucius: The company realized first production at the Anadarko-operated Lucius Spar in January 2015, bringing on six wells throughout the early part of 2015. The company holds a 23.8% working interest in Lucius. Heidelberg: During 2015, the company continued to advance the company-operated Heidelberg development project. The company holds a 31.5% working interest in Heidelberg. Caesar/Tonga: At Caesar/Tonga (33.75% working interest), the company completed a fifth development well (GC 683#2) in 2015. The company has completed a sixth development well (GC 683#3), which is expected to come online later in the first quarter of 2016. A seventh well (GC 726#2) reached total depth in January 2016 and encountered approximately 250 net feet of oil pay. The well is being completed. Due to the continued success at Caesar/Tonga, the company sanctioned a Phase 2 development plan during the fourth quarter of 2015 and anticipates first oil in the fourth quarter of 2017. Constitution: At Constitution (100% working interest), the company executed a platform drilling program in 2015, where the A4 well was sidetracked, completed, and brought online. K2 Complex: At K2 (41.8% working interest), the GC 562#5 infill well, which found 210 net feet of oil pay in the Miocene, was completed. The GC 561#3 development well found 331 net feet of oil pay in the M9, M10, and M15 sands and is being completed. Independence Hub (IHUB) Gas Complex: The last producing well at IHUB watered out in December 2015. IHUB is an asset for the company with cumulative gross production of 1.3 trillion cubic feet of natural gas in eight and a half years. Exploration Two nonoperated explorat


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Price/Cash Flow 21.8x
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